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@article{ART002972381},
author={Young Bin Han},
title={Political Economic Analysis of the Central Bank Digital Currency},
journal={Analyses & Alternatives},
issn={2508-822X},
year={2023},
volume={7},
number={2},
pages={147-178},
doi={10.22931/aanda.2023.7.2.005}

TY - JOUR
AU - Young Bin Han
TI - Political Economic Analysis of the Central Bank Digital Currency
JO - Analyses & Alternatives
PY - 2023
VL - 7
IS - 2
PB - Korea Consensus Institute
SP - 147
EP - 178
SN - 2508-822X
AB - While most of countries today are opposing the issuance of private-led cryptocurrency, nevertheless they are actively jumping into the issuance of government-led digital currency such as CBDC. This article aims to find an answer to this dual attitude of countries. To achieve the purpose, this article finds out the characteristics of political power and economic interest that digital currency has and applies it to the international dimension of the Bretton Woods II System. Then come up to the conclusion that the answer can be found in the fact that the current dual attitude of countries is closely related to the crisis of the international monetary order. The Bretton Woods II System, which led the world economy through reckless monetary expansion based on credit currency, exposed its limitations through the 2008 global financial crisis and put countries into difficulties. In this situation, the cryptocurrency, which appeared by raising the issue of the monopoly power of the central authority in issuing currency, had no choice but to act as an opportunity to drive countries further and further into a corner. This article views CBDC as a national response to address these issues. In other words, countries maintain their monetary power by absorbing the challenge of private digital currency at the government level through CBDC, and use this as a stepping stone to reorganize the international monetary order in crisis with the intention to use it as a means to their advantage. That is what this article is trying to argue.
KW - Cryptocurrency;Central Bank Digital Currency;Monetary Power;Capitalistic Money;Bretton Woods II System.
DO - 10.22931/aanda.2023.7.2.005
ER -

Young Bin Han. (2023). Political Economic Analysis of the Central Bank Digital Currency. Analyses & Alternatives, 7(2), 147-178.

Young Bin Han. 2023, "Political Economic Analysis of the Central Bank Digital Currency", Analyses & Alternatives, vol.7, no.2 pp.147-178. Available from: doi:10.22931/aanda.2023.7.2.005

Young Bin Han "Political Economic Analysis of the Central Bank Digital Currency" Analyses & Alternatives 7.2 pp.147-178 (2023) : 147.

Young Bin Han. Political Economic Analysis of the Central Bank Digital Currency. 2023; 7(2), 147-178. Available from: doi:10.22931/aanda.2023.7.2.005

Young Bin Han. "Political Economic Analysis of the Central Bank Digital Currency" Analyses & Alternatives 7, no.2 (2023) : 147-178.doi: 10.22931/aanda.2023.7.2.005

Young Bin Han. Political Economic Analysis of the Central Bank Digital Currency. Analyses & Alternatives, 7(2), 147-178. doi: 10.22931/aanda.2023.7.2.005

Young Bin Han. Political Economic Analysis of the Central Bank Digital Currency. Analyses & Alternatives. 2023; 7(2) 147-178. doi: 10.22931/aanda.2023.7.2.005

Young Bin Han. Political Economic Analysis of the Central Bank Digital Currency. 2023; 7(2), 147-178. Available from: doi:10.22931/aanda.2023.7.2.005

Young Bin Han. "Political Economic Analysis of the Central Bank Digital Currency" Analyses & Alternatives 7, no.2 (2023) : 147-178.doi: 10.22931/aanda.2023.7.2.005